How Rupert Murdoch Changed Sports Media Forever
In 2021, Real Madrid was valued at $4.75 billion — ranking second among all soccer teams, according to Forbes. Given its latest move, the club could rake in even more cash this year.
The club recently inked a lucrative 25-year deal with sports company Legends, according to Spanish newspaper Vozpópuli.
Legends, already in charge of the team’s retail strategy, will also now be in charge of non-sports events at the club’s stadium, Bernabeu, that range from concerts to conferences.
- The contract could be worth $11 billion for Real Madrid over the 25 years.
- Annual revenues are projected to be between $447 million and $491 million, 20% of which Legends will keep.
- That’s a major jump from the $168 million the club made in non-sports events before COVID-19.
The news comes shortly after the team secured $255 million in extra funding to refurbish Bernabeu.
Portfolio Expansion
The deal is the latest move in the company’s “rapid growth mode,” as co-president and COO Mike Tomon previously told Front Office Sports.
The company just acquired 4Front for a reported $15 million to $20 million. Sixth Street purchased a 51% stake in Legends in January 2021.
Around that time, the company was valued at $1.35 billion.
